Opinion: Another G-20 Gabfest

Wonder Land columnist Dan Henninger on President Obama’s leadership and what to expect from the summit in St. Petersburg.

This transcript has been automatically generated and may not be 100% accurate.

... I ... looking at video ... of Pres Obama greeting Vladimir couldn't at the G twenty summit ... what all these leaders accomplish anything ... is U S leadership ... it doesn't still exist Wonderland Columnist and Henninger is here ... to talk about some of these themes that ... differ from viewers might not be falling at what's the focus of this um what's the purpose here ... well ... I mean folks on the summit is economic growth they are concerned that the emerging market economies slowed ... and a lot of money is been ... a leading emerging Marco is going to the developed economies cousin doesn't seem to be a more growth there ... which is kind of ironic because European Central Bank has just announced its protected predicting growth rate for the European economies next year ... one percent while if they're lucky ... Arike ... an economist year predicting ... perhaps two percent growth in the United States for the rest of the year ... so obviously growth is the problem the question is how to get it yet well that is the question I think they have any of these leaders looked at the post crisis era and said ... she's policies really didn't work for having these kinds allows the growth numbers we got to try something different ... no they're not going to say that I mean the to the extent that the United States has given them any guidance going into this ... Brock Obama and Treasury Secretary Jack Lew has told them to they should do to stimulate more demand stronger demand in Sydney and well basically means more liquidity it means doing what the Federal Reserve has done which is to push a lot of ... liquidity into their economies but the most to the point where there are afraid of doing that breakdown last thing they need is more inflation what they want guidance from the United States on is how the Federal Reserve is going to exit from its quantitative easing strategy bets with everyone here ... and in the world is looking for in Barack Obama is not going to St Petersburg to give that guy well the market starting anticipating that pullback in its really crushing the encouraging economies is ... all the money is going on in Asia are places like Indonesia ... I in their their currencies are falling ... well the irony is Mary that ... that was either one of things on their agenda is how to get more private investment ... into these economies they know that there is an ocean of private money sitting out there on the invested ... the question is what incentive do they need and are talking about things like ... infrastructure projects or securitize Singh infrastructure projects ... that's not what these private investors are looking there look they're looking for a return ... and are looking for conditions inside these economies the wool while a record of strong returns ... and that just doesn't exist if it existed ... the ECB would be predicting greater than one percent growth in Europe ... I wanna turn now to Syria because that's the other I in this in the news that it will be discussed ... at least on the sidelines of the G twenty ... about a minute last ... is is present Obama going to provide any kind of ... in the leadership in on the issue that will convince some any sense of state to support him ... no I don't think so I mean as he sits in St Petersburg he's waiting for the Congress to authorize military action in Syria ... I think this is a very serious matter Mary ... which is that the leaders there in St Peter's Perkins got to be asking themselves about Brock a bomb is ... basic competence at this point ... you in a statement he made in Stockholm about the red line that was and he is and that this is the old world's credibility his credibility is a mistake ... I think most of them were probably taken aback by that because this was so at odds with what he had said previously ... and the question is can Barack Obama to get the job done ... known not only in Syria ... that the fact God in his own country so I think a lot of them will be talking to one another over there about what are we going to do to get through the next three years if this president has shown ... that he is is ineffective the CIA seem to be in the last week also great point and we talk alot about what the U S leaders going to do not look on about ... our actions affect our allies and our calculations